Bank Negara Malaysia (BNM) has issued the ‘Exposure Draft on Cloud Technology Risk Assessment Guideline’, a statement confirmed. The exposure draft proposes guidance to assess common key risks and considerations of control measures when financial institutions adopt cloud services. BNM has invited written feedback to the proposed exposure draft which should be submitted by the 15th July 2022.
The documentation is applicable to banks, Islamic banks, investment banks, Takaful and re-Takaful operators, insurers and reinsurers, prescribed development financial institutions, approved issuers of electronic money and operators of designated payment systems.